RJ returns to profit, appoints new CEO

Royal Jordanian reported net earnings of "around" JOD7.7 million ($10.8 million) for the first half of 2009, reversed from a JOD4 million loss in the year-ago semester.

Revenue decreased 12.7% to JOD274 million on a 6% drop in passengers carried and a 33% fall in uplifted cargo. Operating cost fell 19.6% owing to cost-cutting measures and the dramatic decrease in fuel prices, the airline said. Passenger yield fell 9% and cargo yield 10%. Seat load factor in the first half dropped 6 points to 65%.

Outgoing President and CEO Samer Majali said he remained confident that RJ will achieve a positive full-year result as it "is witnessing a remarkable growth of passenger traffic on all its sectors this summer."

The carrier announced the appointment of VP-Marketing, Sales and Services Hussein Dabbas as its new president and CEO effective Aug. 1. Majali stepped down to become CEO of Gulf Air (ATWOnline, July 7).